Question: To save for a down payment on a home, you invest in an annuity that pays 7.0 % annual interest, compounded annually. If you contribute

To save for a down payment on a home, you invest in an annuity that pays 7.0 % annual interest, compounded annually. If you contribute $ 8 , 000 every year for 5 years, how much interest would you earn during the 5 years? Round your answer to the nearest cent

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